The Nigeria Sovereign Investment Authority (NSIA) has revealed the 26 start-ups selected to participate in the Accelerator Stage (physical bootcamp) of the NSIA Prize for Innovation (NPI 2.0). This announcement follows a comprehensive evaluation and due diligence process on over 7,000 early-stage businesses, from which 100 start-ups were initially chosen.
After further rigorous screening, the following 26 start-ups from various sectors have been shortlisted for the physical bootcamp: Magic Carpet, Materials Pro, Jump n Pass, Awacash, VPay, Betalife, Centio Healthcare, Yalo, Pocket Lawyers, Doktorconnect and Trashcoin. Others are: One Health, Redease, VPD, Kunda Kids, Agroxchange Technology, Sycamore, Passcoder, Earlybean, Powerfull, Adashe, Cash Africa, TownHall, Sakula, Pave, Tribapay.
These start-ups will engage in a week-long physical bootcamp, featuring interactive training sessions, networking opportunities with other innovators, and tailored workshops. The bootcamp will culminate in a mini demo day, where the start-ups will pitch their solutions before a panel of judges from the technology and business ecosystem. The top contenders will advance to the Demo Day and compete for a total combined prize value of $220,000, along with an all-expense-paid five-week training program at Draper University in Silicon Valley, USA.
Commenting on this development, NSIA Managing Director & CEO, Aminu Umar-Sadiq, stated, “The Authority remains focused on leveraging the NSIA Prize for Innovation to propel socio-economic development, especially by catalyzing the technology ecosystem, encouraging youth entrepreneurship, advancing innovative solutions to everyday challenges, and positioning Nigerian tech talents for global relevance.”
The NSIA Prize for Innovation is a multi-year initiative designed to identify and nurture early-stage businesses with the potential for transformative impact in Nigeria. Now in its second edition, the NPI has seen a significant increase in high-quality applications, growing from 2,000 in its maiden edition to over 7,000 in 2024.
The NPI competition comprises several stages:
- Pre-selection Stage: Innovators submit their applications through an online portal.
- Accelerator Stage: The top finalists participate in a virtual and in-person training bootcamp.
- Demo Day: The top ten finalists pitch their solutions to a panel of technology and business leaders.
- Post Demo Day Stage: The top ten finalists engage in an all-expense-paid training program at Draper University, Silicon Valley, USA.
The NPI aligns with the NSIA’s ongoing commitment to catalyze the technology ecosystem by identifying and rewarding Nigerian innovators, equipping them with the right tools to scale their products, connecting start-ups with potential investors, and fostering a robust community of technology innovators and entrepreneurs.
As the competition progresses, NSIA continues to support and inspire the next generation of Nigerian tech entrepreneurs, driving innovation and socio-economic growth across the nation.
